Tom Peterkin: 'The need to sort out the economy should help bind the two parties'

HOW on earth can a party which counts the likes of the famously Eurosceptic right-winger Bill Cash amongst its parliamentarians ever work alongside the Lib Dems?

That is the question that will be exercising backbench MPs of all parties, voters, the money markets and probably Nick Clegg and David Cameron.

The lentil-eating, sandal wearing stereotype of the Lib Dem MP may be slightly unfair, but most of their politicians abhor the sort of politics espoused by Mr Cash and his supporters on the right wing of the Tories.

The potential problems that would be thrown up by such an unlikely alliance have already been anticipated by the Social Liberal Forum, which represents left-leaning Lib Dems and includes a third of the party's MPs.

In advance of coalition talks, it issued a set of "red lines" which it said the party must not cross, including any measure that would increase the gap between the rich and poor.

That approach, for example, would rule out supporting the Tory pledge to cut inheritance tax.

The thought of going into government with a party that most Lib Dems have fought all their lives to overcome was summed up by one MP.

"It's really quite bizarre," he said. "I feel like I'm stuck in a car and I don't where it's going. It looks like we will have to do a deal with the Conservatives. Basically, the pressure is on us because we have to make this work because we want hung parliaments after every election.

"In the end it is the Tory numbers which decided this."

That is the realpolitik that Mr Clegg is faced with. The Conservatives came out of the election with the largest number of MPs – albeit without a majority – at a time of national crisis. The need to sort out the economy should help bind the two parties.

With difficult decisions ahead, it is clear that Mr Clegg and Mr Cameron understand they have a duty to provide a stable government, despite what their grassroots members think of each other. The alliance might seem unpromising, but there are plus points that could help the deal stick. For the Lib Dems there is the lure of power for the first time since the Great War. For the Tories, the genial and pro-European Ken Clarke could prove to be a uniting figure for the two parties.

The personality factor will also be important when it comes to the leaders.

It has been well publicised that Mr Cameron and Mr Clegg come from similarly privileged public school backgrounds. Far more important than the old school ties is the fact that they get on well together.

Indeed, Mr Clegg's bond with Mr Cameron is a much healthier than his fractious relationship with Gordon Brown. Another catalyst is provided by the need to restore confidence in politics. A warring administration would not only harm the economy, it would also inflame the anger provoked by the expenses scandal.

If Ian Paisley can go into government with Martin McGuinness at Stormont, surely it is not beyond our wildest dreams that two moderate, increasingly centrist parties can do something similar at Westminster?